Citizens Jmp Downgrades Snap (NYSE:SNAP) to Hold

Citizens Jmp downgraded shares of Snap (NYSE:SNAP) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

SNAP has been the subject of a number of other research reports. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 price target (up previously from $12.00) on shares of Snap in a research report on Wednesday, October 30th. Barclays reiterated an “overweight” rating on shares of Snap in a research note on Wednesday. Loop Capital upped their price objective on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. BMO Capital Markets reiterated an “outperform” rating and set a $16.00 price objective (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Finally, Truist Financial upped their price objective on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Snap has a consensus rating of “Hold” and a consensus price target of $36.87.

Snap Trading Up 2.0 %

NYSE:SNAP opened at $10.91 on Wednesday. Snap has a twelve month low of $8.29 and a twelve month high of $17.33. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The business has a 50 day moving average price of $11.49 and a two-hundred day moving average price of $10.89. The company has a market cap of $18.29 billion, a P/E ratio of -18.80 and a beta of 0.99.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. As a group, analysts expect that Snap will post -0.39 EPS for the current fiscal year.

Insider Transactions at Snap

In other news, CFO Derek Andersen sold 94,164 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the sale, the chief financial officer now directly owns 2,193,806 shares of the company’s stock, valued at approximately $25,097,140.64. This represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $11.49, for a total value of $206,820.00. Following the sale, the general counsel now directly owns 480,498 shares in the company, valued at approximately $5,520,922.02. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 445,184 shares of company stock valued at $4,968,189. 22.68% of the stock is owned by corporate insiders.

Institutional Trading of Snap

Several large investors have recently bought and sold shares of SNAP. TB Alternative Assets Ltd. boosted its stake in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after buying an additional 4,098,847 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after buying an additional 2,386,519 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Snap by 49.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after buying an additional 1,297,348 shares in the last quarter. Groupama Asset Managment acquired a new stake in Snap in the third quarter valued at about $13,032,000. Finally, Assenagon Asset Management S.A. boosted its stake in Snap by 51.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock valued at $33,244,000 after buying an additional 1,050,501 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Company Profile

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.